With the life story of Shibusawa Eiichi (1840-1931), one of the most
important financiers and industrialists in modern Japanese history, as
its narrative focal point, this book explores the challenges of
importing modern business enterprises to Japan, where the pursuit of
profit was considered beneath the dignity of the samurai elite. Seeking
to overturn the Tokugawa samurai-dominated political economy after the
Meiji Restoration, Shibusawa was a pioneer in introducing joint-stock
corporations to Japan as institutions of economic development. As the
entrepreneurial head of Tokyo's Dai-Ichi Bank, he helped launch modern
enterprises in such diverse industries as banking, shipping, textiles,
paper, beer, and railroads. Believing businesses should be both
successful and serve the national interest, Shibusawa regularly
cautioned against the pursuit of profit alone. He insisted instead on
the 'unity of morality and economy' following business ethics derived
from the Confucian Analects. A top leader in Japan's business
community for decades, Shibusawa contributed to founding the Tokyo Stock
Exchange, the Tokyo Chamber of Commerce, and numerous educational and
philanthropic organizations to promote his vision of Confucian
capitalism.
This volume marks an important contribution to the international debate
on the extent to which capitalist enterprises have a responsibility to
serve and benefit the societies in which they do business. Shibusawa's
story demonstrates that business, government, trade associations, and
educational institutions all have valuable roles to play in establishing
a political economy that is both productive and humane.
